Shyft Group (SHYF) AI Stock Analysis

• Market Cap: $439.02M
• Dividend Yield: 1.59%
• Average Volume (3M): 224.14K
• Price to Earnings (P/E): 972.1
• Beta (1Y): 1.18
• Revenue Growth: -4.08%
• EPS Growth: N/A
• Country: US
• Employees: 2,900
• Sector: Industrials
• Sector Strength: 86
• Industry: Agricultural - Machinery
• EPS (TTM): 0.07
• Shares Outstanding: 35,010,000
• 10 Day Avg. Volume: 189,244
• 30 Day Avg. Volume: 224,137
• PEG Ratio: -0.51
• Price to Book (P/B): 3.25
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -22.13
• Enterprise Value/Market Cap: 2.26
• Enterprise Value/Revenue: 0.31
• Enterprise Value/Gross Profit: 6.07
• Enterprise Value/Ebitda: 10.56
• 1Y Price Target: $15.50
• Price Target Upside: 23.60% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 3

• Rating: 68 Neutral
• Price Target: $13.00 ▲(3.67%Upside)

Shyft Group's stock shows moderate potential with a strong technical outlook and optimistic earnings guidance. However, valuation concerns due to an extremely high P/E ratio and legal challenges related to the merger with Aebi Schmidt present risks. Financial performance is stable but shows room for growth, contributing to a balanced overall score.

Positive Factors

Earnings

SHYF reported earnings with adjusted EPS above consensus due to better cost optimization efforts.

Market Position

The risk-reward has turned more favorable with the stock down ~30% since the downgrade.

Revenue Growth

Revenue for the first quarter exceeded consensus, aided by business upfit opportunities.

Negative Factors

Segment Performance

FVS segment revenue and EBITDA declined both sequentially and year-over-year, impacting margins.

Stock Performance

The stock has experienced a ~30% decline since the downgrade.

Shyft Group Business Overview & Revenue Model

Company Description

The Shyft Group, Inc. manufactures and assembles specialty vehicles for the commercial vehicle and recreational vehicle industries in the United States and internationally. It operates in two segments, Fleet Vehicles and Services, and Specialty Vehicles. The Fleet Vehicles and Services segment manufactures and sells commercial vehicles used in the e-commerce/last mile/parcel delivery, beverage and grocery delivery, laundry and linen, mobile retail, and trades and construction industries. This segment markets its commercial vehicles, including walk-in vans, cutaway vans, and truck bodies under the Aeromaster, Velocity, Trademaster, and Utilivan brands; and vocation-specific equipment upfit services under the Utilimaster Upfit Services and Strobes-R-Us brands. It also installs specialty interior and exterior up-fit equipment for walk-in vans, truck bodies, cargo vans, and light duty pick-up trucks; and provides aftermarket support, including parts sales and field services, as well as parts and accessories. The Specialty Vehicles segment engineers and manufactures luxury class A diesel motor home chassis; and manufactures and assembles truck bodies under the Royal Truck Body and DuraMag brands. It also provides final assembly services for Isuzu N-gas and F-series chassis under the Builtmore Contract Manufacturing brand; and designs and installs custom lighting and upfit solutions for a range of specialty industries. In addition, this segment provides truck accessories under the Magnum brand; and a range of parts and accessories, and maintenance and repair services for its motorhome and specialty chassis. The Shyft Group, Inc. sells its products to commercial users, original equipment manufacturers, dealers, individuals, municipalities, and other government entities. The company was formerly known as Spartan Motors, Inc. and changed its name to The Shyft Group, Inc. in June 2020. The Shyft Group, Inc. was incorporated in 1975 and is headquartered in Novi, Michigan.

How the Company Makes Money

Shyft Group makes money by designing, manufacturing, and selling a broad array of specialty vehicles and chassis to commercial customers. The company's revenue streams primarily consist of sales from its custom vehicle solutions and aftermarket parts and services. Shyft Group's key revenue drivers include its broad customer base across last-mile delivery services, utility, and service industries. Additionally, the company benefits from strategic partnerships and contracts with major delivery and logistics companies, enhancing its market position and providing steady revenue inflows. Shyft Group's focus on innovation and customization allows it to capture niche markets, thereby contributing significantly to its earnings.

Shyft Group Financial Statement Overview

Summary

Shyft Group exhibits moderate financial health with stable revenue and profitability indicators. The balance sheet reflects a balanced leverage position and stable equity levels. Cash flow metrics show strong cash generation, although growth rates are moderate. Overall, the company maintains a steady financial position with potential for improvement in profitability and growth.

Income Statement

The gross profit margin for TTM is 20.61%, indicating moderate profitability. Net profit margin improved to 0.06% TTM from a negative margin in the previous year, suggesting a return to profitability. Revenue growth is relatively slow, with a minor increase of 0.85% from the previous annual report, reflecting a stabilizing revenue base. EBIT and EBITDA margins are low at 1.18% and 3.24% TTM, respectively, indicating limited operational efficiency.

Balance Sheet

The debt-to-equity ratio is 0.33, showing a balanced leverage position. ROE is low at 0.18% TTM, reflecting minimal returns on equity. The equity ratio is 42.57% TTM, indicating a moderate level of equity financing relative to assets, suggesting a stable financial structure.

Cash Flow

Free cash flow growth rate is positive, showing a slight increase from the previous period. The operating cash flow to net income ratio is favorable at 67.34 TTM, demonstrating strong cash generation relative to net income. The free cash flow to net income ratio is high at 37.81 TTM, suggesting efficient conversion of earnings to cash.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	792.89M	786.18M	872.20M	1.03B	991.79M	675.97M
Gross Profit	163.43M	157.19M	150.36M	180.43M	199.26M	146.28M
EBITDA	31.34M	26.56M	24.18M	61.53M	96.28M	63.35M
Net Income	438.00K	-2.79M	6.50M	36.56M	68.92M	32.82M
Balance Sheet
Total Assets	581.08M	568.75M	530.05M	580.48M	447.87M	359.05M
Cash, Cash Equivalents and Short-Term Investments	16.17M	15.78M	9.96M	11.55M	37.16M	21.00M
Total Debt	192.07M	175.32M	132.37M	131.14M	55.18M	74.31M
Total Liabilities	333.76M	320.43M	277.88M	311.79M	181.01M	158.89M
Stockholders Equity	247.33M	248.32M	252.17M	268.59M	266.75M	200.33M
Cash Flow
Free Cash Flow	16.57M	16.39M	35.51M	-39.41M	51.01M	49.80M
Operating Cash Flow	29.49M	30.06M	56.24M	-18.84M	74.01M	64.33M
Investing Cash Flow	-60.52M	-61.20M	-21.11M	-20.42M	-22.08M	14.92M
Financing Cash Flow	33.94M	36.96M	-36.72M	13.65M	-35.77M	-77.60M

Shyft Group Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 12.54
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SHYF, the sentiment is Positive. The current price of 12.54 is above the 20-day moving average (MA) of 11.86, above the 50-day MA of 10.22, and above the 200-day MA of 11.17, indicating a bullish trend. The MACD of 0.64 indicates Positive momentum. The RSI at 69.81 is Neutral, neither overbought nor oversold. The STOCH value of 74.86 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SHYF.

Shyft Group Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SHYF	68 Neutral	$439.02M	972.09	0.18%	1.59%	-4.08%	―
Sector *	68 Neutral	€2.80B	17.63	9.89%	2.89%	-0.64%	-28.31%
CMCO	60 Neutral	$469.87M	55.98	-0.58%	1.71%	-4.98%	-110.92%
GENC		$215.03M	14.77		―	―	―
MTW	72 Outperform	$456.51M	10.22	7.21%	―	-2.75%	65.38%
TWI	66 Neutral	$682.91M	―	-2.65%	―	5.64%	-124.05%
WNC	54 Neutral	$481.09M	―	-15.01%	2.79%	-25.44%	-135.47%

Shyft Group Corporate Events

Shyft Group Completes Merger and Delists from Nasdaq

On July 1, 2025, Shyft Group completed a merger, becoming a wholly owned subsidiary of Holdco and indirectly of Aebi Schmidt. This merger led to significant changes in the company’s board and executive structure, including the resignation of several key executives. Concurrently, the company repaid all outstanding debts and terminated its credit agreements, leading to the delisting of its common stock from Nasdaq and the suspension of its reporting obligations with the SEC.

The most recent analyst rating on (SHYF) stock is a Buy with a $16.00 price target. To see the full list of analyst forecasts on Shyft Group stock, see the SHYF Stock Forecast page.

Shyft Group Approves Merger with Aebi Schmidt

On June 17, 2025, The Shyft Group‘s shareholders approved a merger agreement with Aebi Schmidt Group, a global leader in infrastructure and agricultural solutions. The merger, expected to close by July 1, 2025, will result in the combined company operating under the name Aebi Schmidt Group and trading on NASDAQ as ‘AEBI’. This strategic merger aims to enhance the companies’ global presence, operational capabilities, and value delivery to customers and shareholders.

The most recent analyst rating on (SHYF) stock is a Buy with a $16.00 price target. To see the full list of analyst forecasts on Shyft Group stock, see the SHYF Stock Forecast page.

Shyft Group Faces Legal Challenges Over Merger

On December 16, 2024, The Shyft Group entered into a Merger Agreement with Aebi Schmidt Holding AG, which involves Shyft becoming a wholly-owned subsidiary of Aebi Schmidt. The merger has led to legal challenges, with two lawsuits filed by Shyft shareholders alleging incomplete disclosures in the proxy statement. Despite these challenges, Shyft plans to supplement the proxy statement to address the claims and reduce litigation risks, while maintaining that the original disclosures were compliant with applicable laws.

The most recent analyst rating on (SHYF) stock is a Buy with a $16.00 price target. To see the full list of analyst forecasts on Shyft Group stock, see the SHYF Stock Forecast page.

Shyft Group Shareholders Meeting Approves Key Proposals

The Shyft Group, Inc. held its annual meeting of shareholders on May 14, 2025, where four proposals were voted upon. The company operates in the manufacturing industry, focusing on specialty vehicles and chassis. At the meeting, proposals regarding the election of board members, the appointment of an accounting firm, and amendments to the stock incentive plan were approved, while the proposal on executive compensation was rejected.

The most recent analyst rating on (SHYF) stock is a Buy with a $16.00 price target. To see the full list of analyst forecasts on Shyft Group stock, see the SHYF Stock Forecast page.

Shyft Group Announces Merger with Aebi Schmidt

On December 16, 2024, The Shyft Group, Inc. entered into a Merger Agreement with Aebi Schmidt Holding AG, which will result in Shyft becoming a wholly owned subsidiary of Aebi Schmidt. As a result of this merger, Joshua Sherbin, Shyft’s Chief Legal, Administrative and Compliance Officer, has announced his intention to resign for ‘good reason’ if the merger is completed, which may impact the company’s executive structure.